Can I retire at age 67 with 589,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $589,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$48,639$48,206$47,783$47,371$46,968$46,133
2 years$24,079$23,630$23,196$22,774$22,366$21,527
3 years$15,893$15,443$15,009$14,592$14,190$13,374
4 years$11,801$11,352$10,923$10,513$10,120$9,333
5 years$9,346$8,900$8,477$8,075$7,693$6,938
6 years$7,711$7,268$6,850$6,457$6,087$5,364
7 years$6,543$6,103$5,693$5,309$4,951$4,260
8 years$5,667$5,232$4,828$4,454$4,107$3,448
9 years$4,986$4,555$4,158$3,793$3,459$2,832
10 years$4,442$4,015$3,625$3,270$2,947$2,351
11 years$3,997$3,574$3,192$2,846$2,535$1,969
12 years$3,627$3,208$2,832$2,496$2,196$1,661
13 years$3,313$2,899$2,531$2,204$1,915$1,409
14 years$3,045$2,635$2,274$1,956$1,679$1,200
15 years$2,813$2,407$2,053$1,745$1,478$1,027
16 years$2,609$2,209$1,861$1,562$1,306$881
17 years$2,430$2,034$1,694$1,404$1,158$758
18 years$2,272$1,880$1,546$1,265$1,030$654
19 years$2,130$1,742$1,415$1,143$918$565
20 years$2,002$1,619$1,299$1,035$820$489
21 years$1,886$1,508$1,195$939$734$424
22 years$1,782$1,408$1,101$854$658$368
23 years$1,686$1,316$1,017$778$590$320
24 years$1,599$1,233$940$710$531$278
25 years$1,519$1,158$871$648$478$242
26 years$1,445$1,088$808$592$430$211
27 years$1,376$1,024$750$542$388$184
28 years$1,313$965$697$497$350$160
29 years$1,254$910$649$456$316$140
30 years$1,199$860$604$418$286$122
31 years$1,148$813$563$384$258$106
32 years$1,100$769$526$353$234$93
33 years$1,055$728$491$325$211$81
34 years$1,013$690$459$299$191$71
35 years$973$655$429$275$173$62
36 years$935$621$401$253$157$54
37 years$900$590$375$233$142$47
38 years$867$561$352$215$129$41
39 years$835$533$329$198$117$36
40 years$805$507$309$183$106$32
41 years$777$483$290$169$96$28
42 years$750$460$272$156$87$24
43 years$724$438$255$144$79$21
44 years$700$418$239$133$72$18
45 years$677$398$225$123$65$16
46 years$654$380$211$113$59$14
47 years$633$363$198$105$54$12
48 years$613$346$186$97$49$11
49 years$594$331$175$89$44$9
50 years$575$316$165$83$40$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $589,000, adding $2,686 every year, while hoping to spend $46,849 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 45/37/18 Blend
66$589,000$589,000$589,000$589,000
67$651,849$620,632$611,502$677,701
68$668,490$601,196$582,140$676,634
69$685,259$579,237$550,225$670,600
70$702,119$554,583$515,621$663,068
71$719,027$527,050$478,187$653,919
72$735,937$496,445$437,775$643,029
73$752,795$462,562$394,232$630,262
74$769,538$425,186$347,397$615,474
75$786,098$384,087$297,102$598,510
76$802,395$339,023$243,171$579,206
77$818,343$289,739$185,420$557,383
78$833,842$235,964$123,660$532,853
79$848,781$177,413$57,689$505,414
80$863,035$113,784$0$474,846
81$876,464$44,759$0$443,360
82$888,914$0$0$420,245
83$900,209$0$0$406,401
84$910,156$0$0$410,074
85$918,539$0$0$412,931
86$925,116$0$0$414,851
87$929,621$0$0$415,702
88$931,754$0$0$415,333
89$931,186$0$0$413,579
90$927,547$0$0$410,257
91$920,431$0$0$405,162
92$909,385$0$0$398,069
93$893,907$0$0$388,727
94$873,440$0$0$376,859
95$847,370$0$0$362,158
96$815,012$0$0$344,283
97$775,612$0$0$322,858
98$728,334$0$0$297,467
99$672,251$0$0$267,649
100$606,342$0$0$232,894